Thousands of people in California will face high-net worth divorce situations in 2019. Such circumstances often spark contentious disputes between spouses who don’t see eye to eye regarding financial issues. Many spouses may be hoping to avoid having to make monthly spousal support payments.
Some individuals simply want to settle everything in one fell swoop so that they can put the past behind them and move on in life. If the court orders monthly payments to provide financial supplement to a spouse, it is a constant reminder of things past and can have a negative effect on one’s ability to adapt to a new lifestyle. However, there may be a way to avoid a monthly payment.
California is one of many states that sometimes allow lump sum alimony. Typical factors of consideration that influence a court’s decision regarding spousal support include marriage longevity and each spouse’s ability to earn an income that aligns with his or her accustomed lifestyle. If a spouse has an injury or disability, or if he or she sacrificed a career to stay home full time and raise a family, a judge overseeing may deem it appropriate to order alimony to help provide for that spouse’s financial needs.
A spouse in California can request lump sum payment to avoid being entangled in monthly spousal support payments. The other spouse and the judge will likely have to approve the request. Accepting lump sum payment may be a way to avoid late payments or problems where a paying spouse is not adhering to the terms of a court order. A family law attorney can further explain how lump sum payment works and whether it might be an option in a particular situation.